Liberian Gov’t Says US$25M Mop Up Excess Liquidity Will Be Fully Completed By May 20, 2019
The government of Liberia announces that the investigation into the expenditure of U.S. $25 million which was intended to mop up excess liquidity from the Liberian market will be fully completed by May 20, 2019.
A release issued by the Ministry of Information said the General Auditing Commission, which is the body conducting the forensic audit as mandated by President George M. Weah, was initially given a two-week mandate to submit its report. However, at the commission’s request, that time frame was extended by an additional six weeks.
In keeping with the engagement procedure agreed upon for the conduct of the audit, the GAC is now holding “exit meetings” following the submission of its draft report on May 2, 2019. Hence, additional ten days have been granted the commission by the Ministry of Justice to allow for the full completion of the audit.
In early March, the President mandated the GAC to carry out an investigation into how the mop-up of excess Liberian dollars from the market was carried out by the Technical Economic Management Team.
The Government assures the public of its determination to get to the bottom of the matter and make the findings public.